New reports indicate that Uniswap Labs, the development team behind the eponymous DeFi exchange, is in talks for fresh funding.

Uniswap Labs Eyes $200M in Fresh Funding: Report

The development team behind DeFi's largest exchange Uniswap is reportedly on track to become the next crypto unicorn.

TechCrunch reports that the round could fall between $100 million and $200 million, with a Singapore-based sovereign investment fund and Polychain tied to the deal. The deal would give Uniswap a $1 billion valuation.

Previous investors in Uniswap Labs include heavy-weights a16z, USV, Paradigm, and even Coinbase. The project raised $11 million in a Series A back in 2020.

Uniswap Labs, the development team behind the crypto project, has yet to respond to Decrypt's request for comment.

Uniswap is crypto's largest decentralized exchange by volume traded as well as total value locked (TVL). TVL is a one of crypto's favorite, though problematic, metrics to measure how much money is sloshing around a given protocol.

According to data dashboard DeFi Llama, the exchange hosted over $1 billion volume traded and currently commands a TVL over $5 billion in TVL across its various pools.

Though it was first launched in Ethereum, Uniswap has now integrated with various scaling solutions including Optimism, Arbitrum, and Polygon.

Compared to its larger centralized counterparts, Uniswap still has a bit of work to do to catch up.

Coingecko data shows that over the past 24 hours, Binance hosted over $24 billion trading volume, while Coinbase saw volumes of more than $2 billion.

In December 2020, though, Uniswap did manage to outpace Coinbase's professional offering, Coinbase Pro, for volume traded.

Perhaps with new funding in hand, the development team will be able to make these wins far more common in the future.

Stay on top of crypto news, get daily updates in your inbox.

NEWS RELATED

Billionaire Mike Novogratz Says These Cryptos Are Here to Stay Despite Current Bear Market – Here’s What You Need to Know

Mike Novogratz. Source: a video screenshot, Behind the Brand / YouTube Michael Novogratz, the founder of the US-based crypto financial services firm Galaxy Digital Holdings, named two major cryptocurrencies among those that are here to stay despite the massive turbulence seen in the crypto market this year: bitcoin (BTC) ...

View more: Billionaire Mike Novogratz Says These Cryptos Are Here to Stay Despite Current Bear Market – Here’s What You Need to Know

Giveaway: PrimeXBT Gives Away $20,000 in Bitcoin, and Anyone can Participate

Disclaimer: The following article is part of Cryptonews Deals Series and was written as a promotional article in collaboration with the sponsor of this offer. If your company has an exclusive promotion that you would like to share with our readers, we invite you to reach out to us. Let’s ...

View more: Giveaway: PrimeXBT Gives Away $20,000 in Bitcoin, and Anyone can Participate

Police smash European cocaine ‘super cartel,’ arrest 49 in international sting

BRUSSELS —  Law-enforcement authorities in six different countries have joined forces to take down a “super cartel” of drug-traffickers that controls about one-third of the cocaine trade in Europe, the European Union’s crime agency said Monday. Europol said 49 suspects have been arrested during the investigation, with the latest series of ...

View more: Police smash European cocaine ‘super cartel,’ arrest 49 in international sting

China Protests Send Global Stocks Lower as Strategists See Covid Disruption Persisting

Almost three years of lockdown measures have dragged down the Chinese economy and pushed youth unemployment to nearly 20%. UBS strategists noted that a widening of infections could exacerbate global supply chain interruptions and cause domestic headwinds to spill into global markets. “While the setback to sentiment from protests ...

View more: China Protests Send Global Stocks Lower as Strategists See Covid Disruption Persisting

Ryder Cup captain Luke Donald names squads for January's Hero Cup

Ryder Cup hopeful Seamus Power has been named in the Great Britain and Ireland team to face a Continental Europe side in next year's Hero Cup in Abu Dhabi.

View more: Ryder Cup captain Luke Donald names squads for January's Hero Cup

Gareth Southgate hints that Phil Foden has a big role to play for England at the World Cup

England head coach Gareth Southgate insists Phil Foden has a big part to play in their World Cup campaign.

View more: Gareth Southgate hints that Phil Foden has a big role to play for England at the World Cup

Instructions on how to remove Windows 10 updates very easily

If you want to learn how remove Windows 10 update precisely. Please refer to our article below for more details. Windows 10 is an operating system from Microsoft Windows for today’s computers and laptops and workstations, part of the Windows NT family of operating systems. This operating system was introduced ...

View more: Instructions on how to remove Windows 10 updates very easily

Top 6 Ways to Fix Links Not Opening in Google Chrome

Google Chrome can occasionally encounter problems that make it unusable. One such instance is when the browser fails to open any links. Several users report of experiencing this issue on desktop and mobile. top-6-ways-to Fortunately, resolving this issue is much simpler than switching to a new browser and importing your ...

View more: Top 6 Ways to Fix Links Not Opening in Google Chrome

Small Details You Missed In Netflix's 1899

WoW Dragonflight Unbridled Storm Lord isn’t spawning, locking heirloom

Among Us PC black screen bug makes Steam multiplayer game unplayable

Jewish Texans see surge in antisemitism as a precursor to fascism’s foothold

Some Republicans are optimistic about enacting school choice in next year’s session — but it might not be so easy

Column: Latino support for Karen Bass should put an end to talk of Black-brown strife

Editorial: Congress can help struggling families by reviving the expanded child tax credit

How to Watch Brazil Vs. Switzerland in 2022 World Cup

Overwatch 2’s Ramattra originally had “a Pharaoh type of look”

Israel's Likud signs coalition deal with anti-LGBTQ radical

Niece of supreme leader asks world to cut ties with Iran

Dutch apology for slavery already mired in controversy

OTHER NEWS

Breaking thailand news, thai news, thailand news Verified News Story Network